Consumer confidence gained in the United States, the Conference Board index improved, after two months it rose again to nearly 18 years in April.
The Conference Board’s nonprofit economic research institute announced on Tuesday that its consumer confidence index rose to 128.7 points in April from 127 points in March. In February, the index stood at 130 points since November 2000, at the highest level.
Analysts expected a slight deterioration of the indicator to 126 points.
The indicator of the current situation improved from 158.1 to 159.6 points, while the indicator of expectations rose from 106.2 points to 108 points.
Lynn Franco, director of the Conference Board, pointed out that consumers are more optimistic about current and short-term prospects for business and the labor market as well as their own financial situation.
He added that there is a strong expectation that the US economy will continue to grow in the coming months.
The index of the Economics Research Institute on the last Tuesday of each month, together with the mood index of Michigan, is the most important measure to estimate consumption trends. Personal consumption accounts for about 70 percent of US GDP.